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Profit-maximizing bidding in uniform price auction markets involves bidding above marginal cost. It therefore is not surprising that such behavior is observed in electricity markets. This incent...
We have reviewed all of the comments submitted in response to the FCC’s notice. None of them raise any issues with our original submission other than some wishing for less vigilant anonymity provi...
This paper was written in early 1982. On the basis of results from previous research, we had informally conjectured that sequential auctions of the types treated here would yield upward-drifting price...
A Theory of Auctions and Competitive Bidding.

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